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INCOME PER SHARE | 3 Months Ended
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Mar. 31, 2024
INCOME PER SHARE |
Income Per Share | 3. INCOME PER SHARE: The computation of basic and diluted earnings per common share is as follows (in thousands, except per share data):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Three Months Ended | ​
​ | ​ | ​ | March 31, | ​
​ |  | ​ | 2024 |  | ​ | 2023 | ​
Numerator: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income available to common stockholders | ​ | $ | 43,056 | ​ | $ | 61,320 | ​
Net loss attributable to noncontrolling interest in consolidated joint venture | ​ |  | (579) | ​ | ​ | (763) | ​
Net income available to common stockholders - if-converted method | ​ | $ | 42,477 | ​ | $ | 60,557 | ​
​ | ​ |  | ​ | ​ |  | ​ | ​
Denominator: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted average shares outstanding - basic | ​ | ​ | 59,739 | ​ | ​ | 55,182 | ​
Effect of dilutive stock-based compensation | ​ | ​ | 430 | ​ | ​ | 281 | ​
Effect of dilutive put rights |  | ​ | 3,235 |  | ​ | 3,863 | ​
Weighted average shares outstanding - diluted |  | ​ | 63,404 |  | ​ | 59,326 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic income per share available to common stockholders | ​ | $ | 0.72 | ​ | $ | 1.11 | ​
Diluted income per share available to common stockholders | ​ | $ | 0.67 | ​ | $ | 1.02 | ​
​ As more fully discussed in Note 1 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, although currently not exercisable, the minority investor of OEG has certain put rights (the “OEG Put Rights”) to require the Company to purchase the minority investor’s equity interest in OEG, which the Company may pay in cash or Company stock at the Company’s option. The Company calculated potential dilution for the OEG Put Rights based on the if-converted method, which assumes the OEG Put Rights were converted on the first day of the period or the date of issuance and the minority investor’s noncontrolling equity interest was redeemed in exchange for shares of the Company’s common stock. The operating partnership units (“OP Units”) held by the noncontrolling interest holders in RHP Hotel Properties, LP (the “Operating Partnership”) have been excluded from the denominator of the diluted income per share calculation for the three months ended March 31, 2024 and 2023 as there would be no effect on the calculation of diluted income per share because the income attributable to the OP Units held by the noncontrolling interest holders would also be added to derive net income available to common stockholders.

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